CBA prices standalone benchmark as risk appetite returns
Commonwealth Bank of Australia raised A$1.2bn ($859m) in its domestic bond market on Monday, in the biggest standalone deal from an Australian bank since the credit markets collapsed at the end of 2008.
The bond, split between fixed and floating rate tranches, paid a coupon of 130bp over the bank bill swap rate. CBA was the sole bookrunner, selling the deal to some 35 investors.
The coupon compares favourably to the 100bp spread paid by National Australia Bank for a A$700m
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